Bio-Optronics, Inc.

Bio-Optronics, Inc. is a technology company specializing in Clinical Trial Management Systems (CTMS). It enhances operational efficiency for clinical research sites through innovative software solutions and effective participant engagement tools. Founded in 1985 and headquartered in Rochester, US, Bio-Optronics, Inc.

develops software solutions tailored for the clinical research sector. The company has undergone strategic pivots, notably its acquisition by Advarra, Inc. , in March 2021. Advarra's acquisition aims to bolster its technology portfolio within the research site technology landscape.

The CEO of Bio-Optronics, Inc. is Dan Kerpelman. The firm has secured a total of 30. 000 million USD in funding, with the most recent round being a GROWTH round led by Mainsail Partners on March 9, 2021, marking the company’s second deal.

Bio-Optronics offers Clinical Conductor, a robust Clinical Trial Management System (CTMS) designed to enhance operational and financial efficiency for research sites, hospitals, and health systems. The platform includes tools for patient recruitment, real-time payment solutions, and two-way participant communication through CCText, ensuring compliance with 21 CFR Part 11 regulations. Key clients include clinical research professionals and healthcare organizations, primarily in the US, with potential international reach. The revenue model for Clinical Conductor is primarily subscription-based, where clients pay for access to the CTMS platform and its features.

This B2B engagement allows clinical research organizations to streamline operations and improve participant interactions. Additional revenue comes from modules like CCPay and CCText, which enhance financial processes for staff and services for participants, strengthening the overall financial performance of the company. Following the recent acquisition in March 2021, Bio-Optronics plans to leverage the resources of Advarra, Inc. to expand its technological offerings.

The integration will enhance their capabilities in Research Site Technology and support the development of new products. Specific plans include broadening their market reach into Europe and Asia by 2023, which aligns with the strategic goals of the combined organization to provide comprehensive solutions for clinical research. The 30. 000 million USD raised will be utilized to enhance product development and market expansion initiatives.